can gold and gdx regain bullish trend above 65 day moving averaggold and gdx could regain upward momentum soon.
GDX trade ideas
Green open for GDX? Closing tightly in against the 1yr Ma tends to be followed by price opening above the 1yr Ma, which will inevitably open next week outside the descending channel and could be ultimately very positive for the precious metals
Opening (IRA): GDX April 16th 27 Short Put... for a .42/contract credit.
Notes: With 30-day at 44.5%, adding some miners out in the April monthly on this weakness. 1.58% ROC at max as a function of notional risk; 12.82% annualized. As usual, will take profit on approaching worthless or roll out/take assignment and sell call against if in the money toward expiry (whichever pays more credit).
OPENING (IRA): GDX MARCH 19TH 31 SHORT PUT... for a .60/contract credit.
Notes: With 30-day at 36.7% and expiry-specific at 39.2%, opening a 19 delta short put with a 30.40 break even in the March monthly, since I've already got some on in February. 1.97% ROC as a function of notional risk.
Will run to approaching worthless and/or roll out if in-the-money or take assignment/sell call against (whichever pays most from a credit standpoint).
GDX UpdateBounce off the gap from APR21 2020 as expected. Where we go from here will be very telling. A breach of the medium-term down channel and the .786 retracement level will be necessary for confidence, possibly materializing by end-April (29th).
Big level, I still like this above 31I added this just above 31. Huge level, if break under significantly I will be out. Touched bottom of channel as well, we are chillin currently, watching FOMC closely.
GDX Bearish pennant A bearish pennant or half way pattern (down) is building up for GDX. A break of the pennant will bring GDX down to region $27.5 smack on the 0.38 Fib retracement of the entire move from March 2020 to August 2020. Gold miners are looking great value but Silver miners may still have more downside.
GDX, is this a forgotten treasure?Hello everyone,
So Gold is finally back in a buy/accumulation zone, even though DXY may have more room to run I doubt this will translate in to heavy downside for gold. 1650 maybe? However, the stars look alligned once again to buy gold, or in this case GDX (Gold miners ETF). You can see the trade parameters in the chart. But this is definetely an opportunity like no other, whilst everyone is still lookin at Bitcoin, or Stocks, nobody is expecting a resurgence from gold at this point. However as we see volatility is not dead and gold does like volatile times. Even though this trade will take patience, and most likely won't payoff like crypto. The optimal upside is around a 150%, and in a mania case 400-600%. And the risk is -25%, I mean, it's a casual day in crypto or even stocks these days... Buying now is like buying BTC at 10k. Which BTW i've also advised in doing heavily. It's the same mantra as always - Buy low, sell high. However, most will do it the other way around.
Also check out my other ideas, even though I don't post often. When I do it's usually when things are CHEAP or EXPENSIVE.
As always, stay safe and stay liquid.
GDX @ supportexpect gold miners to make a bounce
GDX @ sopport level + fibonacci level combined.
expect US10 yeild to move lower inverse to gold
GDX false breakdownLike this negating a bearish pattern. Will add in the next few days, if the market give me the chances. Otherwise wait until channel breakout.
Senior Gold Miner's Daily Renko Log ChartMeasured moves with 2 different techniques yields a 73.50$ target.
Let's see how confluence or support helps the turn around upwards.
GDX... still in bear modeGDX... no change in trajectory - bearish.
Previously, called and exited near the top in August 2020 and expected this bearish tones.
Noted BRB Buy Signal triggered as well as the RPM attemping to turn bullish.
Otherwise, MACD is clearly heading down and GDX gapped down to break two support levels in one candle.
More downside seen, at least to 30. possible maximum stretch to 26.
Add some Gold Mining stocks to your listA powerful upside move is just moments away. Easy to spot this as we could see higher lows and price staying above the 200-day moving average over long period of time (don't actually need any other indicators. $130 (3x) upside is just conservative if you plan to hold this for 6-12 months. I am adding this ETF to my portfolio.
Set your buys lowerI think in order to refuel a market wide correction will occur bringing all assets lower and cash higher.
This is a perfect time to load up on gold miners and gold for a q2-q3 rally to ATH.
